Crude oil has nosedived on Monday as markets quickly reacted to U.S. President Donald Trump's announcement that he ordered the U.S. forces to pause any planned attacks against Iran's power plants and energy infrastructure for five days. Trump also claimed that U.S.-Iran negotiations to end the war were going on productively.
WTI Crude Oil for May delivery was last seen trading down by $10.21 (or 10.39%) at $88.02 per barrel.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.